Dinh Vu Port in Hai Phong city has been a bustling hub for loading export goods, especially those destined for the US market. In recent months, there has been a strong resurgence in goods shipments to the US, with the value exceeding 10 billion USD in both June and July. This is a significant increase compared to the earlier part of the year when monthly export values ranged from 8.3 to 8.9 billion USD.
The total export value to the US between January and July reached 66.09 USD billion, marking a 24.4% annual rise – the highest among Vietnam’s importers. American buyers have been consistently purchasing goods from Vietnamese suppliers, with a monthly average of close to 9.6 billion USD in the first half of the year. The top export categories to the US include computers, electronic products, machinery, equipment, garment-textile, and phones, all showing impressive year-on-year growth.
As the US accelerates its goods purchases for the year-end festive season and with their stock levels decreasing, the number of orders from US buyers is expected to increase significantly. Economic experts predict that Vietnamese exports in key sectors such as electronics, leather and footwear, garment textiles, farm produce, and machinery will continue to recover in the coming months. These sectors have seen improvements in quality and competitive pricing, making them more favored by US importers.
Despite the positive outlook for Vietnamese exports, there are challenges that come with increased trade activity. Vietnamese exports have faced over 250 trade defense investigations from 24 markets, with the US alone initiating 64 investigations. Trade defense cases are a common aspect of international commerce, and Vietnamese enterprises must navigate these challenges to maintain their export markets and promote sustainable bilateral trade.
One of the main obstacles for Vietnamese exporters is the fact that the US does not recognize Vietnam as a market economy. This leads to discrimination in anti-dumping and subsidy investigations, as Vietnamese exporters‘ production costs are not used to calculate dumping margins. Instead, „surrogate values“ from a third country are utilized. In order to overcome these challenges, Vietnamese businesses must provide accurate information and data to US authorities to prove the inaccuracies of dumping accusations and demonstrate fair competition in an equal environment.
In conclusion, Dinh Vu Port in Hai Phong city plays a crucial role in loading export goods, particularly to the US market. Despite facing trade defense cases and challenges related to market economy status, Vietnamese exporters are poised to continue their growth in key sectors and maintain their competitiveness in the global market. By adhering to US regulations, enhancing product quality, and increasing value-added content, Vietnamese exporters can navigate trade defense challenges and sustain their export markets for the long term.